CapitaMalls Malaysia Trust unveils RM60 mil refurbished East Coast Mall

KUANTAN (May 7): The newly rebranded and refurbished East Coast Mall was unveiled yesterday after a RM60 million asset enhancement initiative to expand its net lettable area to 485,396 sq ft.

CapitaMalls Malaysia Trust (CMMT), which owns the mall, also unveiled a refreshed logo. The mall is expected to have an attractive tenant mix of fashion, lifestyle and food and beverage shops, and to grow the retail, dining and entertainment scene on the east coast of the peninsula.

CapitaMalls Malaysia REIT Management Sdn Bhd CEO and CMMT manager Low Peck Chen said the launch enhances CMMT's track record of improving unit holder value through continual asset enhancement initiatives.

“The transformation of East Coast Mall into a trendy lifestyle destination mall further unlocks the potential of this well-located asset and will add significant value to the portfolio.”

She added that CMMT keeps track of shoppers’ preferences and works closely with tenants to “continually enhance East Coast Mall’s offerings” and to consolidate its position as “the vibrant retail hub in the east coast of Peninsular Malaysia”.

East Coast Mall is touted as the only mall on the east coast with tenants such as Uniqlo, Guess Jeans, Habib Jewels, MAC and Skechers and Golden Screen Cinemas.

The four-storey mall has 1,100 parking bays and caters for a market of 600,000 families, working professionals, residents from the nearby neighbourhoods, and tourists from neighbouring states of Kelantan and Terengganu.

CMMT is a shopping mall-focused real estate investment trust with a geographically diversified portfolio of four shopping malls, listed on the Main Market of Bursa Malaysia Securities Bhd. CMMT also owns Gurney Plaza in Penang, a majority interest in Sungei Wang Plaza in Kuala Lumpur and The Mines in Selangor. CMMT acquired East Coast Mall in November 2011.